When the COVID-19 pandemic first led to widespread shelter-in-place orders, many businesses had to shutter their doors. Millions of Americans found themselves unemployed as a result, as many companies couldn’t afford to keep their employees on staff when they weren’t fully operational.
In the case of layoffs, the vast majority of impacted professionals qualify for unemployment. As a result, at least some will think that delaying their job search is a smart move. After all, they have access to this financial safety net.
However, waiting to find a new job isn’t typically a great decision. It introduces a range of risks, some of which can be financially devastating. If you are wondering why you shouldn’t wait any longer to find a new job, here’s what you need to know.
Hiring Processes Take Time
The biggest reason to launch your job search today is that hiring processes take time. While the CARES Act extends how long benefits are available, unemployment payments do come to an end after a period.
Before the pandemic, hiring processes took an average of about 24 days. That’s more than three weeks spent waiting to find out if you got one job, which you may not land.
Ultimately, by starting earlier, you are increasing your odds of finding a new position before your benefits run out. It gives you the space to make smart choices, instead of having to take the first thing that comes along so that you can maintain an income.
Competition Will Only Get Fiercer
Millions of Americans were laid off in rapid succession. This means many people triggered their unemployment benefits at the same time, or relatively close to one another.
As the clock ticks along and large groups get closer to the end of the benefits, this creates a greater sense of urgency. Competition for positions will become fiercer as professionals become concerned that they won’t find a job in time.
By starting a job search now, you may avoid some of the competition. You essentially get moving before that sense of urgency arrives, allowing you to miss the crowd.
Job Opportunities May Be Limited
Reopening efforts have been a bit stop-start in many parts of the country. Additionally, with new resurgences in some states and a possible second wave on the horizon, the end picture still isn’t abundantly clear.
As a result, many companies are being cautious. They are keeping their operations a bit scaled back and are only hiring when necessary. This means that new jobs aren’t coming available as fast as the old ones disappeared. Overall, opportunities may be fairly limited, especially in hard-hit niches.
Since there are fewer openings, starting your job search as soon as possible is a smart move. You’ll increase your odds of finding suitable options, as you’ll be keeping your eyes open earlier than some other professionals.
Ultimately, waiting to find a new job isn’t going to work in your favor. It’s best to get ahead of the curve, especially since the future is a bit uncertain. If you’d like to learn about opportunities in your area, the team at The Advance Group can help. Contact us to speak with a recruiter today and see how our services can benefit you.